Meta Financial Group History
Meta Payment Systems is a subsidiary of Meta Financial Group and MetaBank. MPS partners with leading companies to deliver innovative financial products that improve the lives of consumers. They provide proprietary management tools, practical training and unequalled marketing support. MPS roots date back to 1954 in Storm Lake, IA. A gentleman named Stanley Haahr formed the Storm Lake Savings and Loan Association with only $10,000 and a few friends and investors. with a mindset of good customer service, fair treatment of employees, thrifty spending practices and people owning homes, Mr. Haahr grew the meager $10,000 into over $1,000,000,000 in assets today. Through the decades, several mergers and acquisitions were made in Iowa along with a few name changes. In 1993, Meta started trading on the NASDAQ Global Market under the ticker, CASH. In 2004, a significant development in the electronic payment system known as Meta Payment Systems was established across four distinct product lines – credit cards, prepaid cards, ATM’s and Automated Clearing House (ACH) functions. In 2005, all past names and corporate divisions were incorporated into one name, “MetaBank”. Growth ensued and MetaBank evolved into one of the dominant non-traditional bank players in the prepaid product realm. By 2011, MetaBank net income rose to over four and a half billion dollars – great considering the recent economic climate and that MetaBank still has significant retail banking operations.
Meta Payment Systems Noteworthy Facts
MPS was first established in Sioux Falls under the flagship MetaBank in Storm Lake in 2004, and by 2005 became a premier financial competitor in the prepaid markets. In 2006, MPS established some significant software patents that led to over five hundred banks and thirty-six hundred branches selling MPS prepaid gift card products. Growth in 2007 exploded into over 1100 prepaid platforms and almost 36 million issued prepaid debit cards. Record growth continues through 2008, 2009 and 2010 with MetaBank receiving high honors and increased revenues in excess of $106 million. 2010 also marked the 2 billionth ACH transaction through MPS.
The Vision of Meta
- Promote financial inclusion for everyone
- Drive Innovation
- Embrace Change
- Exhibit Integrity
- Exhibit Trust
- Show Respect
- Be Fair
- Help Others Succeed
|About Meta Payment Systems
|Stock Symbol:||NGM: CASH (Nasdaq Global Markets)|
|Corporate Headquarters:||Storm Lake, Iowa, United States of America|
|Address:||121 East Fifth Street or P.O. Box 1307, Storm Lake, Iowa 50588, Telephone: 712.732.4117, Email: [email protected]|
Meta Payment Systems Debit Cards
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